XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

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$35,148 - $73,221

Country: United States

Currency: USD

Updated: 10 May 2019

Individuals Reporting: 13

Job Description for Buyer, Industrial Components

Buyers of industrial components are responsible for purchasing items and materials necessary for production in a manufacturing setting. This means that they must find the best suppliers based on a variety of factors for these items, and they also work with production facility personnel to monitor manufacturing needs, maintain desired levels of inventory, and have needed materials on-hand to meet production schedules.

Buyers of industrial components monitor and research potential suppliers to find quality materials at costs that meet the organization's budgetary demands, and they must also ensure that the materials meet all production specifications to create quality end-products that meet customers' needs and maintain their satisfaction. As such, these buyers must be able to develop and foster good working relationships with suppliers and production personnel, and negotiation skills are also important to make the best deals for the required materials.

These buyers work with other departments within the organization, including sales, engineering, and accounting, and must stay updated on new products and changes to specifications for existing products. This ensures that the buyer can research suppliers if new materials are needed for these changes, and they also report purchases to the accounting department to ensure that budget goals and restrictions are met.

Strong interpersonal and time-management skills are important in this position, and buyers of industrial components must also be able to work independently. Multitasking skills are also beneficial for handling multiple production lines and even more than one production facility. Attention to detail is important to keep accurate records of purchases and report them to production/accounting departments and management as required.

A bachelor's degree in business management or a related field and prior experience in purchasing and procurement are generally required for this position, and computer skills and SAP experience may also be required. Some employers also require their buyers to obtain certified purchasing manager (CPM) designation or the certified professional in supply management (CPSM) designation. (Copyright 2019 PayScale.com)

Buyer, Industrial Components Tasks

Identify suppliers, select merchandise and negotiate bills of sale for a business.